Montrose Port Authority (MPA) has received a £1.5million Scottish Government grant to help it pay for two new quaysides in the north side of the harbour.
MPA said the new infrastructure would allow it berth vessels weighing 18,000 tonnes, a 50% increase on the current limit.
The move is also expected to remove an estimated 1.26 million tonnes of freight from roads and negate the need for 86,000 HGV lorry journeys.
Work on the quaysides is expected to be finished by summer 2019.
MPA chief executive Nik Scott-Gray said: “One of our objectives is to streamline our Port activities, delivering efficient, cost-effective and environmentally-friendly solutions.
“This support from the Scottish Government is the next step in this process; building on our master plan and strategy process while developing new markets and directing investment towards key infrastructure projects.”
The port recently celebrated a record-breaking month announcing 453,444 gross tonnes of vessel activity during May 2018, beating its previous record by 116,299 tonnes.
Nik said: “This is the third consecutive year we’ve beaten our target. With our two new berths I am confident this number will grow year on year, as we welcome vessels from across the globe and encourage environmentally friendly modes of transport.
“There is no doubt this funding will bring significant economic benefits to Montrose and the whole North East in years to come, ensuring the region remains buoyant and competitive in the current marketplace.”